New Grants

The Minister for Resources and Energy, Martin Ferguson AM MP, awarded $235 million to four commercial-scale renewable energy projects from the Renewable Energy Demonstration Program (REDP) on 7th Nov 2009.

This funding – combined with money from successful applicants – will deliver approximately $810 million in renewable energy investment in Australia. It will deliver almost 80 MW of new renewable generation from wave technology, geothermal sources, and an integrated mini-grid project involving wind, solar, biodiesel and storage technologies.

The four successful lead companies are

  • MNGI Pty Ltd (Petratherm),
  • Geodynamics Pty Ltd,
  • Victorian Wave Partners Pty Ltd
  • Hydro-Electric Corporation (Hydro Tasmania).

These projects will diversify Australia’s energy supply and help deliver the Government’s expanded Renewable Energy Target of 20% by 2020,” Minister Ferguson said. “The REDP will support the commercialisation of renewable energy and help accelerate the deployment of new renewable energy technologies for power generation in Australia.”

The two geothermal projects proposed by Petratherm and Geodynamics in South Australia deploy different technologies in two different geological settings. Both will significantly add to the body of knowledge supporting Australia’s geothermal energy sector.

Ocean energy technology also has great potential in Australia and the Victorian Wave Partners’ project will see ocean energy technology deployed in Australia on a large scale for the first time.

Hydro Tasmania’s King Island project will demonstrate the integration of wind, solar and storage with a biodiesel generator. This will provide baseload and peak power for King Island’s mini grid system and reduce the Island’s reliance upon diesel generators. By facilitating the integration of renewables into the grid through elements such as frequency and voltage control, the project aims to reduce dependency upon baseload fossil fuel energy sources and will demonstrate integrated technologies that can help integrate renewables into electricity grids. This project has the potential to refine technologies that will have widespread application in rural and remote Australia.

Following the May 2009 budget, solar energy applications were excluded from funding under the REDP, but were assessed by the Renewable Energy Committee against the original REDP guidelines.As announced last week, an Interim ACRE Board is being appointed and will this year make funding recommendations on the most prospective solar applications received. ACRE will also manage remaining REDP funds.

Petratherm project Ocean Power Technologies

Details of the successful projects are:

MNGI Pty Ltd – $62.762 million grant subject to successful offer negotiations

The 30MW Paralana Geothermal Energy Project is an engineered geothermal system (EGS) project, based on Petratherm’s ‘Heat Exchanger Within Insulator’ (HEWI) model. The Paralana project is located adjacent to the Beverley uranium mine.

Demonstration of the Paralana project will provide a sound foundation upon which to underpin the large-scale development and deployment of geothermal energy in Australia.

Geodynamics Limited – $90.000 million grant subject to successful offer negotiations

The Geodynamics Cooper Basin 25 MW Geothermal Demonstration Project will demonstrate the potential for hot-rock geothermal energy to be a major generator of zero-emission, base-load power.The Project will be the world’s first multi-well hot fractured rock power project.

The Project will be located in the north east corner of South Australia in the Cooper Basin, between Moomba and Innamincka, where Geodynamics has assessed its resource as holding geothermal energy sufficient to support several thousand megawatts of electricity generating capacity.

Victorian Wave Partners Pty Ltd – $66.465 million grant subject to successful offer negotiations

Ocean Power Technologies (Australasia) and its partner Leighton Contractors will construct the first commercial scale ocean energy project in Australia.

The 19 MW Victorian Wave Power Demonstration Project involves the staged construction and demonstration of wave power generation using Ocean Power Technologies PowerBuoy technology off Portland, Victoria.

The Hydro-Electric Corporation (Hydro Tasmania) – $15.280 million grant subject to successful offer negotiations

The King Island Renewable Energy Integration Project will demonstrate the potential for enabling technologies to help integrate renewable technologies into established electricity networks and mini-grid systems in remote areas.

The King Island project is to integrate wind, solar and storage with a biodiesel generator to provide baseload and peak power for the King Island mini grid system, which currently uses diesel generators for its primary energy supply. The integration of these energy sources will require the provision of innovative control mechanisms for load and frequency control

To find out more about how Treadstone can help you with applying for Government Grants call us on 03 9016 3575.

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